Canacol Energy (TSE:CNE) Price Target Cut to C$3.50 by Analysts at BMO Capital Markets

Canacol Energy (TSE:CNEGet Rating) had its price target dropped by analysts at BMO Capital Markets from C$4.00 to C$3.50 in a report released on Friday, BayStreet.CA reports. BMO Capital Markets’ price objective suggests a potential upside of 30.60% from the company’s previous close.

Shares of Canacol Energy stock opened at C$2.68 on Friday. The company has a market capitalization of C$457.90 million and a P/E ratio of 24.14. The company’s fifty day moving average is C$3.07 and its two-hundred day moving average is C$3.20. The company has a debt-to-equity ratio of 276.87, a quick ratio of 2.80 and a current ratio of 2.83. Canacol Energy has a 1 year low of C$2.55 and a 1 year high of C$4.09.

Canacol Energy (TSE:CNEGet Rating) last issued its earnings results on Thursday, March 17th. The oil and gas exploration company reported C$0.05 earnings per share for the quarter, missing the consensus estimate of C$0.14 by C($0.09). The firm had revenue of C$97.17 million for the quarter, compared to analyst estimates of C$85.25 million. As a group, equities analysts expect that Canacol Energy will post 0.42 earnings per share for the current year.

About Canacol Energy (Get Rating)

Canacol Energy Ltd., an oil and gas company, engages in the exploration, development, and production of natural gas in Colombia. As of December 31, 2021, it had a total proved developed producing reserves of 236 billion cubic feet (Bcf) conventional natural gas; a total proved plus probable reserves of 607 Bcf conventional natural gas; and a total proved reserves of 368 Bcf conventional natural gas.

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